In a significant endorsement of African financial reforms, the European Union (EU) has officially removed Nigeria, South Africa, and four other African nations from its list of “high-risk third country jurisdictions” regarding money laundering and terrorism financing.
The decision, confirmed by the European Commission this week, marks a major turning point for the continent’s economic reputation. Alongside Nigeria and South Africa, the delisted nations include Tanzania, Mozambique, Burkina Faso, and Mali.
The EU’s move follows the successful removal of these nations from the Financial Action Task Force (FATF) “grey list” in October 2025. The European Commission acknowledged that these countries have addressed “strategic deficiencies” in their financial frameworks, bringing them in line with international standards.
By clearing these nations, the EU has effectively signaled to global investors that these African markets are now safer and more transparent destinations for capital.
Effective January 29, 2026, the rigorous “enhanced due diligence” requirements previously imposed on financial transactions involving these countries will be lifted. This change is expected to:
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Ease Cross-Border Payments: Simplifying the processing of international transfers for businesses and individuals.
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Reduce Transaction Costs: Lowering compliance costs for European banks dealing with African entities.
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Boost Investor Confidence: Removing a significant red flag that previously deterred foreign direct investment (FDI).
The development has been hailed as a triumph for African economic diplomacy. In Abuja, Doris Uzoka-Anite, Nigeria’s Minister of State for Finance, celebrated the decision as a validation of the administration’s reform agenda.
“Big win for Nigeria! Removed from EU’s financial ‘high-risk’ list! Congrats to President Bola Tinubu on this achievement,” she stated on X (formerly Twitter). “As minister of state for finance, I’m proud of this boost to trade and investor confidence.”
